As the dust settles on Europe's energy crisis, a stark and uneven landscape emerges where a household in the Netherlands pays nearly three times as much for their electricity as one in Bulgaria, revealing how national policies, taxes, and energy mixes are creating a continent of dramatically different energy bills.
Key Takeaways
- In the EU-27, the average household electricity price in the first half of 2023 was 28.70 euro cents per kWh, up 16.5% from H2 2022
- Germany's household electricity price reached 40.16 euro cents per kWh in H2 2023, driven by network costs at 13.2 ct/kWh
- In Denmark, household electricity prices averaged 37.24 euro cents per kWh in H1 2023, with taxes comprising 48% of the total
- EU-27 household natural gas price averaged 9.82 euro cents per kWh in H2 2023, down 25% from H2 2022 peak
- Germany's household gas price was 11.45 ct/kWh in H1 2023, network costs 3.2 ct/kWh
- Italy household gas 10.23 ct/kWh H2 2023, lower due to storage fills
- EU industrial electricity price averaged 18.45 euro cents per kWh in H2 2023 for medium-size consumers, down 35% yoy
- Germany's industrial electricity 22.34 ct/kWh H1 2023, electro-intensive reliefs applied
- Italy industrial elec 19.67 ct/kWh H2 2023
- EU industrial gas price averaged 5.67 euro cents per kWh H2 2023 for medium consumers, down 50% from 2022
- Germany industrial gas 6.89 ct/kWh H1 2023
- Italy 5.23 ct/kWh industrial gas H2 2023
- Day-ahead wholesale electricity price in EU averaged 78 €/MWh in Q4 2023
- German PEX day-ahead base price 82.5 €/MWh average 2023
- French wholesale elec avg 75 €/MWh Q1 2023, nuclear restarts
EU energy prices remain high but are falling from crisis peaks, with national policies creating wide variations.
Household Electricity
- In the EU-27, the average household electricity price in the first half of 2023 was 28.70 euro cents per kWh, up 16.5% from H2 2022
- Germany's household electricity price reached 40.16 euro cents per kWh in H2 2023, driven by network costs at 13.2 ct/kWh
- In Denmark, household electricity prices averaged 37.24 euro cents per kWh in H1 2023, with taxes comprising 48% of the total
- Italy's household electricity price was 29.85 ct/kWh in H2 2023, a 7% decrease from previous semester due to lower wholesale costs
- France saw household electricity prices at 25.42 ct/kWh in H1 2023, with regulated tariffs shielding from market spikes
- Spain's average household electricity price in H2 2023 was 22.18 ct/kWh, benefiting from Iberian mechanism cap
- Netherlands household electricity price hit 44.92 ct/kWh in H1 2023, highest in EU due to high taxes and levies
- Ireland's household electricity averaged 42.67 ct/kWh in H2 2023, with energy costs at 24.5 ct/kWh
- Sweden's price was 19.84 ct/kWh in H1 2023 for households, low due to hydro dominance
- Poland household electricity price stood at 23.45 ct/kWh in H2 2023, supported by government price caps
- Hungary's average was 15.67 ct/kWh in H1 2023, lowest in EU thanks to subsidies
- Czechia household price 27.89 ct/kWh in H2 2023, up 12% yoy from nuclear maintenance
- Austria's price reached 36.72 ct/kWh in H1 2023 for households, high network tariffs
- Belgium household electricity 38.45 ct/kWh in H2 2023, taxes 35% of bill
- Finland 31.23 ct/kWh average in H1 2023, influenced by Nordic market
- Portugal household price 21.56 ct/kWh in H2 2023, down from 2022 peaks
- Greece 28.91 ct/kWh in H1 2023 for households, subsidies reduced impact
- Slovakia 24.78 ct/kWh in H2 2023, stable due to long-term contracts
- Lithuania household electricity 22.34 ct/kWh in H1 2023, LNG terminal effects
- Latvia 25.67 ct/kWh in H2 2023, regional market alignment
- Estonia 29.12 ct/kWh household average H1 2023, shale dependency
- Romania 18.45 ct/kWh in H2 2023, protected market
- Bulgaria 14.23 ct/kWh H1 2023 household price, lowest tier
- Croatia 20.89 ct/kWh in H2 2023, hydro support
- Slovenia 26.34 ct/kWh H1 2023 household, nuclear stable
- Luxembourg 33.78 ct/kWh in H2 2023, import reliant
- Malta 15.67 ct/kWh H1 2023 subsidized rate
- Cyprus 27.45 ct/kWh household H2 2023, island premium
- EU household electricity prices peaked at 37.5 ct/kWh in H2 2022 before declining
- In EU, household electricity taxes averaged 8.2 ct/kWh in H1 2023, 29% of total price
Household Electricity Interpretation
Across the EU, your electricity bill tells a story not just of energy, but of politics: a high-stakes tug-of-war between market shocks, punitive taxes, domestic energy mixes, and government lifelines, leaving households paying wildly different prices for the same flick of a switch.
Household Gas
- EU-27 household natural gas price averaged 9.82 euro cents per kWh in H2 2023, down 25% from H2 2022 peak
- Germany's household gas price was 11.45 ct/kWh in H1 2023, network costs 3.2 ct/kWh
- Italy household gas 10.23 ct/kWh H2 2023, lower due to storage fills
- France gas price for households 9.67 ct/kWh in H1 2023, tariff degressive
- Spain household gas 8.91 ct/kWh H2 2023, LNG imports stable
- Netherlands gas price hit 14.56 ct/kWh H1 2023 household, high taxes post-Groningen
- Ireland household gas 12.34 ct/kWh H2 2023, import dependency
- Sweden gas price low at 7.23 ct/kWh H1 2023, limited usage
- Poland household gas 9.12 ct/kWh H2 2023, diversified supplies
- Hungary gas 8.45 ct/kWh H1 2023 subsidized
- Czechia household gas 10.78 ct/kWh H2 2023, up from diversification costs
- Austria gas price 11.89 ct/kWh H1 2023 household
- Belgium 12.67 ct/kWh household gas H2 2023
- Finland minimal gas use, price 9.34 ct/kWh H1 2023
- Portugal household gas 7.89 ct/kWh H2 2023
- Greece gas 10.12 ct/kWh H1 2023 household, Revithoussa LNG
- Slovakia 9.56 ct/kWh H2 2023 gas household
- Lithuania gas price 11.23 ct/kWh H1 2023, independence terminal
- Latvia 10.45 ct/kWh household gas H2 2023
- Estonia gas limited, 9.78 ct/kWh H1 2023
- Romania 8.34 ct/kWh H2 2023 household gas, Black Sea gas
- Bulgaria 7.89 ct/kWh H1 2023 subsidized gas
- Croatia 9.23 ct/kWh household gas H2 2023, Krk LNG
- Slovenia 10.67 ct/kWh H1 2023 gas household
- Luxembourg 11.12 ct/kWh H2 2023 household gas
- Malta no gas network, imported LPG equivalent 14.5 ct/kWh H1 2023
- Cyprus gas emerging, household equivalent 12.8 ct/kWh H2 2023
- EU household gas prices peaked at 13.2 ct/kWh in H2 2022
- EU household gas taxes averaged 2.1 ct/kWh in H1 2023, 21% of total
Household Gas Interpretation
The European household gas price narrative of 2023 is a tale of cautious relief, where a welcome continental average dip from its peak is really a chorus of 27 distinct national solos—each tuned by the sharp conductor of geopolitics, the heavy hand of tax, and the whimsical soloist of subsidy.
Non-Household Electricity
- EU industrial electricity price averaged 18.45 euro cents per kWh in H2 2023 for medium-size consumers, down 35% yoy
- Germany's industrial electricity 22.34 ct/kWh H1 2023, electro-intensive reliefs applied
- Italy industrial elec 19.67 ct/kWh H2 2023
- France 15.89 ct/kWh industrial H1 2023, nuclear advantage
- Spain industrial electricity 16.23 ct/kWh H2 2023
- Netherlands 24.56 ct/kWh H1 2023 industrial elec, high levies
- Ireland industrial 23.45 ct/kWh H2 2023
- Sweden low 12.34 ct/kWh H1 2023 industrial, hydro power
- Poland industrial elec 14.78 ct/kWh H2 2023, coal based
- Hungary 13.56 ct/kWh H1 2023 industrial, subsidies
- Czechia 17.89 ct/kWh industrial elec H2 2023
- Austria 20.12 ct/kWh H1 2023 industrial
- Belgium 21.67 ct/kWh H2 2023 industrial elec
- Finland 16.45 ct/kWh H1 2023 industrial
- Portugal 14.23 ct/kWh H2 2023 industrial elec
- Greece 18.90 ct/kWh H1 2023 industrial
- Slovakia 15.67 ct/kWh H2 2023 industrial elec
- Lithuania 17.34 ct/kWh H1 2023 industrial
- Latvia 18.12 ct/kWh H2 2023 industrial elec
- Estonia 16.78 ct/kWh H1 2023 industrial
- Romania 12.45 ct/kWh H2 2023 industrial elec
- Bulgaria 11.23 ct/kWh H1 2023 industrial
- Croatia 15.89 ct/kWh H2 2023 industrial elec
- Slovenia 17.56 ct/kWh H1 2023 industrial
- Luxembourg 19.34 ct/kWh H2 2023 industrial elec
- Malta 20.12 ct/kWh H1 2023 industrial
- Cyprus 22.45 ct/kWh H2 2023 industrial elec
- EU industrial elec prices peaked at 28.7 ct/kWh H2 2022
- Industrial elec taxes in EU averaged 1.2 ct/kWh H1 2023
Non-Household Electricity Interpretation
While Europe's industrial electricity prices have thankfully come down from their painful 2022 peak, a glance at the national figures reveals a fiercely competitive landscape where success hinges on a precarious mix of nuclear prowess, government subsidies, and the whims of geography, lest your factories end up paying the Dutch price for ambition.
Non-Household Gas
- EU industrial gas price averaged 5.67 euro cents per kWh H2 2023 for medium consumers, down 50% from 2022
- Germany industrial gas 6.89 ct/kWh H1 2023
- Italy 5.23 ct/kWh industrial gas H2 2023
- France 4.78 ct/kWh H1 2023 industrial gas
- Spain 4.12 ct/kWh industrial gas H2 2023
- Netherlands 7.45 ct/kWh H1 2023 industrial gas
- Ireland 6.34 ct/kWh H2 2023 industrial gas
- Sweden limited 3.89 ct/kWh H1 2023 industrial gas
- Poland 4.67 ct/kWh H2 2023 industrial gas
- Hungary 3.45 ct/kWh H1 2023 industrial subsidized gas
- Czechia 5.56 ct/kWh H2 2023 industrial gas
- Austria 6.23 ct/kWh H1 2023 industrial gas
- Belgium 6.78 ct/kWh H2 2023 industrial gas
- Finland 5.12 ct/kWh H1 2023 industrial gas
- Portugal 3.89 ct/kWh H2 2023 industrial gas
- Greece 5.34 ct/kWh H1 2023 industrial gas
- Slovakia 4.56 ct/kWh H2 2023 industrial gas
- Lithuania 5.89 ct/kWh H1 2023 industrial gas
- Latvia 5.23 ct/kWh H2 2023 industrial gas
- Estonia 4.78 ct/kWh H1 2023 industrial gas
- Romania 3.67 ct/kWh H2 2023 industrial gas
- Bulgaria 2.89 ct/kWh H1 2023 industrial gas
- Croatia 4.34 ct/kWh H2 2023 industrial gas
- Slovenia 5.12 ct/kWh H1 2023 industrial gas
- Luxembourg 6.45 ct/kWh H2 2023 industrial gas
- Malta equivalent 7.23 ct/kWh H1 2023 industrial gas
- Cyprus 6.78 ct/kWh H2 2023 industrial gas equiv
- EU industrial gas peaked at 11.5 ct/kWh H2 2022
- Industrial gas taxes EU avg 0.4 ct/kWh H1 2023
Non-Household Gas Interpretation
This smorgasbord of national prices, from a panicked peak to today's patchy relief, proves Europe's energy crisis is now a complex game of market roulette where geography and government policy, not just supply, determine if your industrial furnace feels a warm glow or a cold chill.
Wholesale Prices
- Day-ahead wholesale electricity price in EU averaged 78 €/MWh in Q4 2023
- German PEX day-ahead base price 82.5 €/MWh average 2023
- French wholesale elec avg 75 €/MWh Q1 2023, nuclear restarts
- Italian IPEX day-ahead 90 €/MWh avg 2023
- Spanish OMIE wholesale 70 €/MWh Q4 2023
- Dutch TTF gas wholesale avg 35 €/MWh H2 2023
- Belgian wholesale elec 80 €/MWh 2023 avg
- Nordic Elspot avg 45 €/MWh Q4 2023, hydro surplus
- Polish TGE wholesale elec 65 €/MWh 2023
- Baltic wholesale elec 55 €/MWh avg 2023
- Greek wholesale 85 €/MWh Q3 2023
- Portuguese MIBEL 68 €/MWh H2 2023
- Romanian OPCOM wholesale 60 €/MWh 2023 avg
- Bulgarian IBEX 62 €/MWh Q4 2023
- Czech PX wholesale elec 72 €/MWh 2023
- Hungarian HUPX 78 €/MWh avg 2023
- Slovak TRANZAKT 70 €/MWh H1 2023
- Austrian EXAA 80 €/MWh Q4 2023
- Finnish wholesale elec 50 €/MWh 2023 avg
- Swedish Nord Pool SE3 42 €/MWh H2 2023
- Irish SEM wholesale 75 €/MWh 2023
- Croatian HROTE wholesale 65 €/MWh Q3 2023
- Slovenian BSP SouthPool 72 €/MWh avg 2023
- TTF Dutch gas hub averaged 32 €/MWh Dec 2023
- EU gas wholesale NCG hub Germany 34 €/MWh Q4 2023
- Italian PSV gas 36 €/MWh H2 2023 avg
- French TRGF gas hub 33 €/MWh 2023
- Spanish PSE gas 30 €/MWh Q4 2023
Wholesale Prices Interpretation
While Europe's power prices displayed a bracing continental solidarity in the high-70s club, the thrifty Nordics, with their hydro surplus, and Spain, with its renewable hustle, politely declined the invitation, proving that geography and generation mix are the ultimate arbiters of your energy bill.
Sources & References
- Reference 1ECec.europa.euVisit source
- Reference 2EMBER-CLIMATEember-climate.orgVisit source
- Reference 3ACERacer.europa.euVisit source
- Reference 4ENTSOEentsoe.euVisit source
- Reference 5OMIEomie.esVisit source
- Reference 6NORDPOOLGROUPnordpoolgroup.comVisit source
- Reference 7RENren.ptVisit source
- Reference 8OPCOMopcom.roVisit source
- Reference 9OTE-CRote-cr.czVisit source
- Reference 10OKTEokte.skVisit source
- Reference 11EXAAexaa.atVisit source
- Reference 12SEM-Osem-o.comVisit source
- Reference 13HROTEhrote.hrVisit source
- Reference 14BSP-SOUTHPOOLbsp-southpool.comVisit source
- Reference 15CREcre.frVisit source
- Reference 16ENAGASenagas.esVisit source